Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $15.00 at Wells Fargo & Company

Relay Therapeutics (NASDAQ:RLAY) had its target price upped by equities researchers at Wells Fargo & Company from $13.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 41.74% from the company’s previous close.

Several other analysts have also recently commented on RLAY. Oppenheimer raised shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price for the company in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.40.

Relay Therapeutics Stock Performance

RLAY stock traded up $1.42 on Friday, reaching $10.58. The company had a trading volume of 3,641,195 shares, compared to its average volume of 2,208,951. The company’s fifty day moving average is $8.33 and its 200 day moving average is $6.67. The company has a market cap of $1.83 billion, a P/E ratio of -6.05 and a beta of 1.59. Relay Therapeutics has a 1 year low of $1.77 and a 1 year high of $11.43.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. On average, sell-side analysts predict that Relay Therapeutics will post -2.55 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Donald A. Bergstrom sold 18,895 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $143,979.90. Following the sale, the insider owned 422,733 shares in the company, valued at $3,221,225.46. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the transaction, the chief executive officer owned 661,041 shares of the company’s stock, valued at $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,302 shares of company stock valued at $724,355 in the last quarter. Company insiders own 4.87% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several large investors have recently modified their holdings of the business. Seven Fleet Capital Management LP acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at approximately $618,000. Invesco Ltd. raised its holdings in Relay Therapeutics by 139.6% in the fourth quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock valued at $7,322,000 after acquiring an additional 504,291 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Relay Therapeutics in the fourth quarter valued at $106,000. XTX Topco Ltd bought a new position in Relay Therapeutics during the 4th quarter valued at $1,332,000. Finally, VARCOV Co. acquired a new position in Relay Therapeutics during the 4th quarter worth $248,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.